George Gilder on Coingeek Backstage

George Gilder on CoinGeek Backstage: ‘Bitcoin SV is re-establishing time as the basis of truth’

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“It’s about time, don’t you think that we had Bitcoin SV?” This was the opening statement of renowned futurist and economist George Gilder as he joined CoinGeek Backstage reporter Nidhi Arora on the sidelines of the CoinGeek New York Conference.

Gilder is a familiar face at CoinGeek Conferences and has been giving plenty of keynote speeches at previous events. And for him, the CoinGeek New York is different since Bitcoin SV now manifests in a level of transactions that dwarfs other blockchains like BTC.

“I think to celebrate that Satoshi Vision is now manifest in a level of transactions that dwarfs the level of transactions of BTC. Everybody focuses on the market cap…which is $900 billion. Almost a trillion-dollar market cap for BTC, but that’s as a flight harbor from the perils of the world…Bitcoin SV (BSV) is now taken off in the transactional field. They now have 2 billion byte (2GB) blocks and [it’s] really unlimited with what you can do on it,” explained Gilder.

Arora asked the economist about his opinion on those who think blockchain technology is a glorified database and does not see its value.

“Blockchain allows the creation of real money. What we’re using today is not real money, with no interest rates and $8 trillion of currency trading every day. That’s the biggest industry in the world economy—currency trading,” Gilder stated. “Blockchain restores a new global money for the first time since 1971 when Nixon went off the gold standard. This is the new digital gold standard, and it restores truth to money again,” he added.

Arora and Gilder also discussed current news concerning the crackdown on digital currency-related activities in countries like China and India. Gilder stated that China is not banning blockchain or digital money; instead, they are launching a new central bank digital currency (CBDC) on a national blockchain that may compete with Satoshi Nakamoto’s Bitcoin.

“China is the world’s leading country in producing digital money. They have an almost cashless economy today, and they are launching a new central bank digital currency on a national blockchain. If they achieve this, it will compete with Satoshi’s Bitcoin. It could obviate it if they really let it if they really did it honestly,” Gilder pointed out.

The economist also added that blockchain would be the foundation of the next global money since it can remove the biggest industry in the world economy, which is currency trading.

“Blockchain will be the foundation of the next global money, and that’s a big breakthrough because it obviates. It removes this biggest industry in the world economy. A worthless industry of shuffling currencies at $8 trillion a day, and that’s up 50% over the last four years. While the world economy went into a slump. While we had trade wars and monetary conflicts, currency trading went up 50%. It’s an egregious scandal of money and blockchain; the Bitcoin Satoshi Vision will ultimately be the solution,” Gilder said.

“Blockchains intrinsically support individual rights. They anchor identities in a ground state attached to a global distributed ledger, and governments can always do outrageous things, and it doesn’t matter whether what the money is…blockchain [can’t] solve all those problems, but it can create a basis of truth both for the global internet and global money. Removing the poorest pyramid of internet communications and the ponzi scheme of global money and establishing a new basis for a new golden era of prosperity and opportunity,” he added.

As for Gilder’s general takeaway, he reiterated the famous saying that “Knowledge is wealth.”

“The difference between our age and the stone age is entirely the growth of knowledge.” he explained.

“When it comes down to it, every economic transaction is governed by time. What real money does is offer a tokenized time that allows you to have the effect of time, the constraint of time propagated through every transaction in the global economy. This is really what Bitcoin SV is doing, is re-establishing time as the basis of truth in the global economy. Timestamp server was what Craig Wright, Satoshi invented, and time is truth. It’s what remains scarce when everything else grows abundant— the speed of light and the span of life,” Gilder said.

To learn more about central bank digital currencies and some of the design decisions that need to be considered when creating and launching it, read nChain’s CBDC playbook.

Watch: George Glider’s keynote speech at CoinGeek New York, BSV has more transactions than BTC

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